SFE Investment Counsel purchased a new position in Shopify Inc. (NYSE:SHOP - Free Report) TSE: SHOP in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,150 shares of the software maker's stock, valued at approximately $229,000.
Several other institutional investors and hedge funds also recently bought and sold shares of SHOP. Jennison Associates LLC bought a new stake in shares of Shopify in the 4th quarter worth about $132,323,000. Swiss National Bank raised its position in Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker's stock worth $293,507,000 after purchasing an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC lifted its stake in Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock worth $1,431,000 after purchasing an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock valued at $27,409,000 after buying an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Shopify by 26.4% during the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker's stock valued at $2,693,000 after buying an additional 7,027 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on SHOP shares. UBS Group increased their target price on Shopify from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. KeyCorp raised their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. ATB Capital boosted their price objective on shares of Shopify from $145.00 to $170.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald restated a "neutral" rating and issued a $120.00 target price on shares of Shopify in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their price target on shares of Shopify from $126.00 to $144.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $126.21.
Get Our Latest Research Report on SHOP
Shopify Price Performance
Shares of NYSE:SHOP traded up $0.71 during midday trading on Monday, reaching $128.36. 8,508,068 shares of the company's stock traded hands, compared to its average volume of 6,434,349. The company has a fifty day simple moving average of $111.90 and a two-hundred day simple moving average of $93.20. Shopify Inc. has a 1 year low of $48.56 and a 1 year high of $128.57. The company has a market cap of $165.85 billion, a P/E ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. Equities analysts predict that Shopify Inc. will post 0.91 EPS for the current fiscal year.
Shopify Company Profile
(
Free Report)
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
See Also
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